BURLINGTON, N.C.--(BUSINESS WIRE)--Aug. 1, 2012--
Laboratory Corporation of America® Holdings (NYSE: LH) today announced
the completion of its acquisition of MEDTOX Scientific, Inc. (NASDAQ:
MTOX), effective July 31, 2012.
At a special meeting held on July 31, 2012, MEDTOX’s stockholders
approved the acquisition and the transaction closed promptly thereafter.
After the close of the Nasdaq Global Select Market on July 31, 2012,
trading in MEDTOX common stock ceased, and the listing of MEDTOX’s
common stock was suspended. MEDTOX stockholders will receive a letter of
transmittal from American Stock Transfer & Trust Company LLC as paying
agent with instructions on how to cash in their shares of MEDTOX common
stock.
About LabCorp®
Laboratory Corporation of America® Holdings, an S&P 500
company, is a pioneer in commercializing new diagnostic technologies and
the first in its industry to embrace genomic testing. With annual
revenues of $5.5 billion in 2011, over 31,000 employees worldwide, and
more than 220,000 clients, LabCorp offers more than 4,000 tests ranging
from routine blood analyses to reproductive genetics to companion
diagnostics. LabCorp furthers its scientific expertise and innovative
clinical testing technology through its LabCorp Specialty Testing Group:
The Center for Molecular Biology and Pathology, National Genetics
Institute, ViroMed Laboratories, Inc., The Center for Esoteric Testing,
Litholink Corporation, Integrated Genetics, Integrated Oncology, DIANON Systems,
Inc., Monogram Biosciences, Inc., Colorado Coagulation, and Endocrine
Sciences. LabCorp conducts clinical trials testing through its LabCorp
Clinical Trials division. LabCorp clients include physicians, government
agencies, managed care organizations, hospitals, clinical labs, and
pharmaceutical companies. To learn more about our organization, visit
our Web site at: www.labcorp.com.
Forward Looking Statements
Investors are cautioned that statements in this press release that are
not strictly historical statements, constitute forward-looking
statements. These statements are based on current expectations,
forecasts and assumptions of LabCorp that are subject to risks and
uncertainties that could cause actual outcomes and results to differ
materially from those statements. These risks and uncertainties include,
among others, the risk that the transaction may not achieve the
anticipated strategic benefits; customers, suppliers, employees or
strategic partners may have adverse reactions to the transaction; the
integration of MEDTOX into LabCorp’s business subsequent to the closing
of the transaction may not be successful; as well as other factors
detailed in LabCorp’s and MEDTOX’s filings with the SEC, including
LabCorp’s Annual Report on Form 10-K for the year ended December 31,
2011 and subsequent SEC filings, and MEDTOX’S Annual Report on Form 10-K
for the year ended December 31, 2011 and subsequent SEC filings.
Source: Laboratory Corporation of America® Holdings
Laboratory Corporation of America® Holdings
Stephen
Anderson, 336-436-5076
Investor/Media Contact:
www.labcorp.com
